Article 85 — Monitoring, evaluation and review

1. The Commission shall monitor the implementation of the Programme and of the Ukraine Support Instrument on a regular basis and report annually on progress made, including on the level of involvement of SMEs and small mid-caps and on the overall expenditure of the Programme and the Ukraine Support Instrument broken down by type of actions and by form of Union contribution, to the European Parliament and to the Council. The Commission shall put in place necessary monitoring arrangements ensuring that data for monitoring the implementation and the results of the Programme and of the Ukraine Support Instrument are collected efficiently, effectively and in a timely manner. To that end, proportionate reporting requirements may be imposed on recipients of Union funds and, where appropriate, on Member States. 2. By 30 June 2027, the Commission shall draw up a report, based on indicators where appropriate, evaluating the implementation of the measures set out in this Regulation and their results and assessing the need for a possible revision of this Regulation. The evaluation report shall build on consultations of the Member States and key stakeholders and shall evaluate the contribution of this Regulation to the progress made towards increasing the value of defence equipment procured in the Union in a collaborative manner, the value of intra-EU defence trade and the value of Member States’ defence investment procured in the Union. 3. The Commission shall present the report to the European Parliament and the Council, accompanied, where appropriate, by relevant legislative proposals.